Reality Gaming Group has announced it's raised over $3.5m through its new initial coin offering (ICO) to fund the development of its upcoming AR mobile combat game, Reality Clash.
The ICO began on August 29th using Ethereum blockchain technologies and runs until September 29th, but the amount raised so far is well in excess of its initial minimum target of $1.5m.
To celebrate the ICO's success, the publisher will be holding a competition for investors to win a personalised machine gun for use within the upcoming game. Anyone who participates in the ICO will receive an email containing a referral code and a link, and all deposits that take place via the referral link will earn that referrer a 5 per cent bonus in in-game currency tokens. The winner will be the person who accrues the largest referral balance by the end of the crowd-sale on September 29th.
Indeed, buying this in-game currency formed the entire basis of the company's ICO, which gaveg gamers and investors alike the chance to buy currency tokens for a third of the regular price. These can then be used to obtain exclusive in-game items before the game launches and earn access to special tournaments and extras.
The free-to-play game is currently slated for release in Q3 2018 and will release for iPhone and Android devices. It will use the phone's camera to render an AR view of the world onscreen and will use geolocation gameplay to invite players to enter face-to-face combat with each other in real time.
Tony Pearce, Reality Gaming Group co-founder, said: We're absolutely delighted with the response to the Reality Clash ICO, which we believe represents a great new way for game developers and publishers to fund their projects. It also gives gamers a unique opportunity to get into the fast-moving world of ICOs and crypto-currency trading. This competition is a bit of added fun and our way of saying ‘thank you' to our community of investors."
He continued: "Running an ICO is not an easy process though. There is no one singular crowd funding platform like Crowdcube or Kickstarter to focus all your PR at. With ICOs, you need to promote your campaign at the cryptocurrency investors and blockchain markets and get these guys interested in your project. Forums and social media are extremely important, as this is your only real contact with anyone interested in investing.
"It can seem like the wild west out there, so as a game developer or publisher it's extremely important to get advisors on board who have been through an ICO and know the potential scams and pitfalls."